Global Co: Vote

“It is pleasing to see such a
strong turnout and a decisive vote by farmers on such a key
issue, said Mark Masters on behalf of Farmers for a Better
Dairy Deal, responding to the provisional results announced
today by Kiwi and NZ Dairy Group.

“We have done our best
to ensure that farmers had all the relevant information in
front of them before voting, including some discussion of
the alternatives. We believe Global Co, in its present
form, won’t achieve the strategy or the vision agreed by
industry leaders in 1999.”

“It lacks so many key features
required to deliver that strategy”.

“If Global Co is
serious about becoming one of the top five dairy food firms
in the world within five years, it will have to change
significantly over the coming years”, said Mr Masters.

“It
will have to access outside (non-farmer) share capital. It
will have to become highly consumer-focused, not production
driven as we have been for the last 60 years. It will have
to radically re-shape its culture.”

“We believe industry
leaders know are aware of these realities.”

“It will be
interesting to see how well the Government can deliver its
monopoly-safeguard regulations”, observed Mr Masters.

The
chances of implementing regulations to effectively counter
Global Co’s domestic monopoly are not high.

“The
Government will be on the back-foot now that the industry
leaders have the farmers’ vote behind them.”

The
Government does not have a goo track record in dealing with
monopolies in NZ. (Look at how long Telecom managed to keep
Clear in a corner).

“Farmers will need to be extremely
vigilant in monitoring Global Co’s performance. The sad
reality, however, is that 14,500 dairy farmers can’t do it –
the information and balance of power is so lop-sided.”

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